[hiknapster]

Thanks everyone!

The house across the street, which is in wonderful shape, 5 years younger, and almost 2,100 square feet, went for $199,000 on 12/27/2006.

She's not on the edge of the ghetto. The street next to her is full of rentals and duplexes, but two blocks up in the other direction is a VERY nice subdivision.

MYHOMEISINOCALA: What kind of mortgage is that? By the way, you must be an INCREDIBLE real estate agent.

[hiknapster]

Oh, and I got those stats from the Ziprealty site you gave me!

Most important part: She works for an appraiser!!!! I guess that's how she knew to do all this stuff. But I think she's finally run out of steam. I live in fear that they are going to show up on my doorstep.

Funny, how, she could maneuver all this for herself, but my husband and I have never owned our own home. She got her daughter a mortgage, though. The woman NEVER MADE A PAYMENT. She bought in 2003. It makes me sick to think about.

[ddlove01]

Kelly, does your new house have a pool? What part of FL? From your posts, I think you are in the Tampa area? We have our house on the market and we have a family from Connecticut interested in our home. They have friends that live in our area and their friends made an appointment with our realtor to come and check out the home for them. We are really, really excited. This is the first real bite we've gotten in 2 1/2 months. Not getting my hopes up too much, but any action is good. Congrats on the new place!

Originally Posted by kelly3120

@...he had the house on and off the market for 9 months.
it's a 3/2 around 1500 sq ft.
I "think" he started at 259 then 230 when we discovered it.
we began offers around 210 and came to an agreement at 223 I think ...I don't remember numbers well. maybe 223 and some change? ...grrr now this is bothering me that I can't remember.
his prob is he rebought the house for a a good amount. i can't remember that number.

I just picked 15 homes ranging in price between 220-285 that were 3/2s and we checked 15 houses out the first day. This house was the last one we came to and then my husband and I looked at it and decided we wanted it.
We were willing to pay 230, but of course started lower then that.

the house was on the market a while due to bad advertising on their end(no pics, no virtual tours, nothing but a simple pic) and a slightly high price.
Sounds like his realtor wasn't experienced.

my realtor rocks!!!

[Audacious]

Originally Posted by hiknapster

I would like opinions about this.

My MIL bought her house in Fort Myers, San Carlos Park for 46,000 in 1983. She has always been behind on her mortgage. She has refinanced numerous times.

Sometime, in the past couple of years, she got a home equity loan, and now is into this house for 99,000.

It's a 2/1, about 1,000 square feet. It's on the edge of a decent neighborhood and a so-so neighborhood.

I have no idea what she did with the equity money. She's still driving a 20-year-old vehicle, didn't go on vacation, etc. She did say she bought a refrigerator!

Last month, she told me that her house was worth $240,000. I looked on the MLS for a house fairly similar in her neighborhood and I could NOT see her getting $160,000. Two weeks ago, she told my husband she is in foreclosure and putting the house on the market for $199,000. I don't see her getting that for the dump.

What does everybody think of this situation?

Yikes, I don't know what she did with the $$$ but the house as described in decent condition is worth about 115K +/- a few.

[MyHomeIsInOcala]

Originally Posted by hiknapster

MYHOMEISINOCALA: What kind of mortgage is that? By the way, you must be an INCREDIBLE real estate agent.

A HUD 203K is an FHA mortgage used for Rehab... I have personally used this and have sold others with it. It is a great tool for people whom are looking into any home (over 1 yr old) that needs at least $5K in work. (Heck, Carpet can cost that much!) LOL You can even use it to include additions or Garages (once you have met the $5K criteria on the main house).

Rehab a Home W/Hud's 203k Rehab Program

[kelly3120]

ddlove,

no pool. I don't want one I wanted a big yard!
tampa area is correct

[Jammie]

Hik, I'm so sorry about your MIL. I know it's got to affect your family even though she's the one in this mess. But I also understand the other things you're saying. She just seems to be a bit careless and not too thrifty. But seriously, it's still to bad to see someone be put out on the street.

[hiknapster]

Hi, y'all. She's been IMing me tonight. She is saying the same thing that so many on here are saying. The builders are in a mess, but that does not affect her. She desperatly tried to get hold of me tonight.

I told her that the house across the street was twice the house of hers but she ignored me.

I don't know what to do.

Thanks Jammie, and everyone else.

[Audacious]

Originally Posted by hiknapster

Hi, y'all. She's been IMing me tonight. She is saying the same thing that so many on here are saying. The builders are in a mess, but that does not affect her. She desperatly tried to get hold of me tonight.

I told her that the house across the street was twice the house of hers but she ignored me.

I don't know what to do.

Thanks Jammie, and everyone else.

First and foremost my sincere appologies for being brief/cold in my response to your post. I did not know what MIL meant (not quite up to speed on all acronyms out there) and after reading the following posts I truly felt like a cold hearted SOB. I think everyone knows what that means. I wish you and your MIL the best of luck.

As a sidebar, working for an appraiser is probably what facilitated the problem. Way too many willing to hit the number. I confess, I'm a RE appraiser however I thought you might appreciate what I am including in my appraisals. There were are a lot of liars out there but there are also a lot of honest people out there as well. My business has suffered quite a bit because I am NOT willing to hit the number. Property is worth what it is worth and the market determines the worth. I have removed the name etc of my business for obvious reasons. Good luck to you and your family.


F R A U D N O T I C E


Due to the increasing risk of identity theft and the accompanying mortgage fraud
risk it poses, license and insurance information has been removed from this report.
Any licensing, certification, resume, or insurance information needed by
a client will be provided, upon written request from a verifiable client.

Any appraisal you have received that claims to have been submitted
by
ABC APPRAISAL SERVICES
should be verified by calling
000-123-4567

We are cooperating with the FBI and all state Attorneys General in an effort to reduce mortgage fraud. All requests for appraisal verification will be processed promptly to minimize delays. However there will, on occasion, be requests for copies from the client or its assigns to verify that the document being used in a lending decision matches the one we have on file. Any discrepancies that are found will be reported to the proper authorities for criminal prosecution.

This is part of our effort to assure that you, the client, will receive the most accurate, reliable appraisal product possible.

[kelly3120]

no problem.
I've watched it a few times and it hits me ever time.
It's darling. So sweet ...makes me want kids NOW!